"We salute UAE Government's vision for the welfare of the employees in the UAE by implementing Wages Protection System (WPS). And we appreciate the companies' commitment to support this great vision by partnering with Smart Pay.", observed Mr. Y. Sudhir Kumar Shetty, COO - Global Operations, UAE Exchange, on the occasion of the awards ceremony of Smart Pay Appreciation Programme.

UAE Exchange recognised top 10 corporate entities, who partnered with the leading payroll solution, Smart Pay, to address their salary disbursal requirements. This unique partnership helped the entities in complying with WPS, an initiative from the UAE Ministry of Labour and the UAE Central Bank. Smart Pay has been a trusted channel for over tens of thousands of corporate entities, which supported the Government's vision of streamlining the salary disbursal process.

Mr. Shetty further added, "We take this opportunity to thank the Ministry of Labour and the Central Bank for the encouragement and guidance extended to the corporate world and its employees. Apart from that UAE Exchange Smart Pay's path to excellence under their invaluable guidance has been a great learning experience in itself. Today Smart Pay is a leading name in the market, thanks to our partnership with tens of thousands of corporate entities.This award is a token of appreciation to our excellently performing partners in 2010."

For the employees of these entities, Smart Pay offers convenient, secure and timely salary pick up facility at any of the widely networked UAE Exchange branches in the UAE. To enhance their convenience, UAE Exchange, in association with MasterCard, has introduced the Smart Pay-MasterCard electronic payroll cards. These cards empower them to withdraw salary through any MasterCard enabled ATM and to shop by swiping it on Point of Sale (POS) machines at MasterCard approved merchant locations. The employees can also withdraw money from UAE Exchange's Cash Dispensing Machines (CDM) installed across all Emirates. Smart Pay is one of the many successful proprietary products offered by UAE Exchange.

The other products from the leading global remittance and foreign exchange brand include Xpress Money, the leading global instant money transfer brand; Money2anywhere, the online money transfer portal; Flash, the product that facilitates real time account credit; and XPay, the easy payment facility through mobile phone. Apart from these products

UAE Exchange also offers quality service through its strong global network of more than 500 direct offices spanning 23 countries across five continents. Its correspondent relationship with over 150 global banks strengthens the network.

Mr. Ibraheem Alammari, Director of Wages Protection Office along with other top officials from Ministry of Labour, graced this special occasion to encourage the performers to achieve excellence, while aligning with the Government's vision. The awards function, held at Al Bustan Rotana Hotel, Near Dubai Airport, Dubai, was attended by top officials of UAE Exchange, dignitaries and special invitees.